EnQuest agrees with BP to run decommissioning of Thistle, Deveron

Reuters Staff

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(Reuters) - EnQuest Plc (ENQ.L), a North Sea-focused oil producer, said it had agreed with BP Plc (BP.L) to manage the decommissioning of Thistle and Deveron fields, located 275 miles north-east of Aberdeen in the United Kingdom.

EnQuest will get $30 million (21.17 million pounds) in cash as part of the deal for handling the process. EnQuest said its current estimate of its exposure to decommissioning costs is lower than the $30 million cash being received.